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Deficit Meaning: Definition, Examples, and Translations

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deficit

[ˈdɛfɪsɪt ]

Definitions

Context #1 | Noun

economic

The amount by which something, especially a sum of money, is too small.

Synonyms

dearth, deficiency, shortfall.

Which Synonym Should You Choose?

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Word Description / Examples
deficit

Commonly used in financial and economic contexts to indicate a shortfall between income and expenses or the difference between actual and required amounts.

  • The company is struggling to reduce its budget deficit.
  • The trade deficit has been a major concern for the country's economy.
shortfall

Commonly used in both financial and general contexts to describe a situation where there is not enough of something to meet a requirement or expectation. It often implies a more manageable or temporary situation.

  • The charity is facing a shortfall in donations this year.
  • There is a shortfall of 2,000 units in the supply chain.
deficiency

Typically used in medical or scientific contexts to describe a lack of a necessary nutrient, component, or element. It can also be used in a general sense to talk about a missing quality or characteristic.

  • Iron deficiency is a common cause of anemia.
  • The report highlighted several deficiencies in the system.
dearth

Used to express a severe lack or scarcity of something, often implying a more serious or dire situation. This word carries a more dramatic connotation than its synonyms.

  • There was a dearth of medical supplies during the crisis.
  • The dearth of skilled workers is affecting the industry.

Examples of usage

  • The country is facing a budget deficit this year.
  • There is a deficit in the balance of payments.
Context #2 | Noun

medical

A lack or shortage of something.

Synonyms

deficiency, insufficiency, scarcity.

Which Synonym Should You Choose?

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Word Description / Examples
deficit

Use 'deficit' when referring to a shortfall or shortcoming, typically in a financial context or when discussing quantities that do not meet a necessary level.

  • The country is facing a budget deficit due to increased spending.
  • There is a trade deficit between the two countries.
deficiency

Use 'deficiency' to describe a lacking or shortage of a necessary element, often in the context of health or nutrition.

  • Vitamin D deficiency is common in winter.
  • The soil has a deficiency in essential minerals.
insufficiency

Use 'insufficiency' when highlighting the state of not being enough or adequate, often in a formal or technical context.

  • The project was delayed because of insufficiency of funds.
  • The patient is suffering from heart valve insufficiency.
scarcity

Use 'scarcity' to talk about a limited supply or availability of resources, often implying difficulty in obtaining them.

  • The scarcity of clean water is a major issue in some regions.
  • During the war, there was a scarcity of food.

Examples of usage

  • A deficit in essential vitamins can lead to health problems.
  • The patient showed deficits in memory and cognition.

Translations

To see the translation, please select a language from the options available.

Origin of 'deficit'

The word 'deficit' originated from the Latin word 'deficit' meaning 'it is lacking'. It entered the English language in the late 18th century. The concept of deficit has been a key aspect in economics and finance, highlighting the imbalance between income and spending.

Word Frequency Rank

With rank #4,080, this word represents useful upper-intermediate vocabulary. Understanding and using it will help you express more complex ideas effectively.